Events

Not As Many Underwater

ARLINGTON, TX - AUGUST 16: Joe Flacco #5 of the Baltimore Ravens looks across field against the Dallas Cowboys in the first half of the preseason game at AT&T Stadium on August 16, 2014 in Arlington, Texas. (Photo by Ronald Martinez/Getty Images)

RealTrak reports during the first quarter Nevada leads the nation with the highest percentage of residential properties seriously underwater with 34-percent, in Las Vegas it’s 37 percent. But RealtyTrak Vice President Darren Bloomquist tells The Las Vegas Morning News that the state and our city are down more than 20 percent from a year ago.

Officials say low housing inventory and more buyers are causing home prices to rise and sell over list price, giving homeowners who are moderately underwater a chance to avoid the foreclosure process.

Across the nation 9.1 million residential properties remain seriously underwater, but that’s the lowest level in two years.